The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-10
DUN s. co. IS BUSINESS REVIEW.
Legitimate Business Shows Decided Improve
ment. While Speculation Declines.


ment, While Speculation Declines.
NEW YORK, Sept. Or. G. Dun & Co., in
their weekly review of trade. say: Commerce and
industry have improved, while speculation has
slackened. A very different result expect
ed when it was announced, week ago, that a
syndicate had undertaken to raise $40 000 900
for the Baltimore & Ohio and to establish har
mony between the trunk lines. AT first stocks
rose quickly an average Of 81 per share, but soon
it was seen that the borrowing of millions by a
great company did not necessarily mean or bring
prosperity; heavy declines in Baltimore s. Ohio
and other stocks affected by the Ives failure fol-
lowed, and a gradual reaction toward lower prices
and speculative inactivity has continued
this week. On the other hand. evidence ap-
pears of decided improvement in legitimate
business, with larger sales, larger production
and q more wholesome feeling, even in branches
lately most depressed. The Improvement in the
wooden goods trade is clearly marked, though
that trade cannot yet be called active. Lower
prices for wool encourage manufacturers. and
the demand for goods is broadening. Distri-
button of cottons continues large, with especial
demand for the best qualities, and manufacture
is relieved from fear of speculative corners in
material, the new crop being undoubtedly
large one, though below early estimates.
Iron furnaces of 1873. 725 tons capacity were in
blast September 1.-The largest output yet
ported: the increase since q year ago is IA per
cent DISAGREEMENT in some quarters lest an
should depress prices is made by the fact that
the best grades are scarce and wei. maintained,
though in other grades and brands not well
known. weakness appears. The mills
in which iron is worked into forms for
use generally pressed with orders: bar iron
has good demand; the orders for sheet plate
and tauk-iron press works to their full capacity
makers of structural iron crowded, and the
nail business is slightly better. In steel rails
though even the Thomas company sells at $50
for winter delivery, and the yielding In prices
dlsheartens some makers, there is a general
disposition to shut out foreign products. and
facilities for producing at lower cost are stead-
ly increasing.
Wheat speculation seems to have gone into
bankruptcy stagnaton ruling in spite of the
reduction of Liverpool freight rates to 1gd The
price has lifted only eighth the past week.
while corn and oats have risen &c. pork 25c per
bbl., and lard Ice per 100 lbs. Oil has advanced
sc In a belief that producers will succeed In
limiting the supply. Sugar shows tendency
to boom. having risen 18c per 100 lbs, while
coffee is an eighth weaker, high rates for money
affecting Brazil holders Copper is weaker
with the opening of the Calumet s. Hecla
mines. Large offerings of tea at auction
resulted in moderate prices. and the rice market
is improving in activity. Supplies of butter are
very liberal, and prices for grades under extra
irregular. Evidence of general improve
ment comes from nearly all cities. Remarkably
heavy distributions of hardware and farmers
supplies at Chicago and st. Louis. with activity
of banks, not from speculative demands. and
reports of formidable increase in shipments
by the railroads from this city, promise salts
factory returns of fall trade
Money is generally active at interior points
and collections fair The large supplies OF
money from Europe. already received and
the way, clear off heavy loans which have tied
up home capital, and thus promise much home
relief. Failures at New Haven and Philadel phia
have involved some minor houses, but do not
indicate especial weakness IN any special branch
of trade. For the present. the signs favor
large and profitable fall business, unless
monetary stringency should interrupt
The business failures during the last seven
m States.
Canada, %; total, 174 compared with 1919 last
week. and 178 in the same week of last year.